First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $41.00

First Financial Bankshares (NASDAQ:FFIN) had its target price increased by Keefe, Bruyette & Woods from $40.00 to $41.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

FFIN has been the subject of several other research reports. Hovde Group upped their price target on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Stephens upped their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Stock Down 1.7 %

Shares of FFIN stock opened at $37.37 on Monday. First Financial Bankshares has a 12-month low of $27.62 and a 12-month high of $44.66. The firm has a fifty day moving average of $38.40 and a 200-day moving average of $37.46. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 25.77 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. Research analysts expect that First Financial Bankshares will post 1.52 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now owns 101,085 shares in the company, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO F Scott Dueser sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the completion of the transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at approximately $19,183,992.92. This represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Financial Bankshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in First Financial Bankshares in the second quarter valued at $83,000. Huntington National Bank raised its holdings in shares of First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares during the period. R Squared Ltd acquired a new stake in First Financial Bankshares in the 4th quarter valued at about $88,000. Point72 DIFC Ltd bought a new position in First Financial Bankshares during the second quarter worth about $97,000. Finally, Point72 Asset Management L.P. acquired a new position in First Financial Bankshares during the second quarter worth approximately $118,000. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.